Crop receipts as alternative financial instruments

Capability-Based Financial Instruments

Every novel cooperative arrangement of mutually suspicious parties interacting electronically — every smart contract — effectively requires a new cryptographic protocol. However, if every new contract requires new cryptographic protocol design, our dreams of cryptographically enabled electronic commerce would be unreachable. Cryptographic protocol design is too hard and expensive, given our unl...

Securitized Risk Instruments as Alternative Pension Fund Investments

Recent years have seen the introduction of a new class of derivative securities based on "exotic underlyings" such as natural catastrophes and weather. This paper analyzes the pros and cons of these new securities as assets for institutional investors. It is argued that the underlyings on which these derivatives trade have very low correlations with other factors that move the investment market...

Financial Instruments in Recommendation Mechanisms

Prospects of Kenaf as an Alternative Field Crop in Virginia

Kenaf (Hibiscus cannabinus L. ), a warm-season annual plant, has shown potential as an alternate source of fiber in the United States. Although preliminary research has indicated feasibility ofkenaf production in Virginia, production details are lacking. Field experiments were conducted during 1995 and 1996 to determine optimal row spacing and fertilizer needs, and to compare available kenaf cu...

ACCOUNTING FOR FINANCIAL INSTRUMENTS FOR BANKS Joint Working Group of Banking Associations on Financial Instruments